China remains hopeful it will reach an agreement with the U.S. in 90 days, as the two teams are currently communicating well and experiencing good cooperation, said Gao Feng, spokesman for the Ministry of Commerce during a press conference on Thursday, CCTV News reported.

In response to the rumour that China made major concessions to the U.S. on “structural” issues around IP theft, non-tariff barriers and forced technology transfer, Gao refuted the claims.

“The trade negotiation between China and the U.S. is not about who takes or gives more or less, nor about who steps back or forward,” said Gao.

Gao believes that in the fields of protecting intellectual property rights, promoting fair competition and relaxing market access, China and the U.S. have common interests, and this is highly consistent with China’s direction of deepening reform.

Gao stressed that the next step will see China conduct consultations on the above issues with mutual respect and equality with regard to mutual benefits.